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"Digital payment services are expanding into digital lending, developing cheaper and more efficient ways to extend credit to hard-to-reach borrowers," she said.

"Faced with new economic challenges, Chinese authorities have taken a series of strong policy measures which will take effect gradually and will be favorable for steady economic growth next year," said the country's fourth largest State-owned commercial lender by assets in a report released on Wednesday.

"Europe and the United States are leading the world in terms of urbanization, thanks to their first mover advantages. While in Asia, specifically in China, the government has been promoting its urbanization strategy for years, which helps the country achieve the highest urbanization growth rate globally and a vast space for development in the future," Deloitte said.

"Despite the fast development of 5G, its commercialized progress has entered a crucial phase where telecom carriers are faced with an array of challenges," said Li Zhengmao, vice-president of China Mobile.

"Early detection and isolation is significant in containing the epidemic," said Chai Xiangfei, CEO of Huiying Medical. "Based on the data from tens of thousands of epidemic-related cases in the past two months, our AI screening model can be of great help to doctors."